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CNN
Nov 27, 2012 6:00pm PST
that reduces the deficit by $4 trillion, that does so in a balanced way, that includes substantial cuts to discretionary non-defense spending, over $1 trillion, it includes revenue and includes $340 billion in savings from our health care entitlement programs. >> fairly unequivocal, isn't it? it's a mixture of pretty substantial spending cuts and tax increases. >> we haven't seen the plan. i haven't seen the plan. i don't think the speaker -- >> are you accusing the president of lying? is the president lying? >> where is the plan? >> is he lying? >> i don't think the plan's out there. i think jay carney might be but i don't see the plan. maybe they have a plan. >> jay carney is lying and he's the white house spokesman. >> no. >> they're lying, are they? >> i'm not saying that. piers, maybe they've got -- >> you just did. you just called him a liar. >> they haven't shared the plan with the american people. paul ryan and the republicans in congress have passed twice now and last year -- excuse me, two years ago as well, a ten year plan for a budget that deals with the ten-year debt w
CNN
Nov 27, 2012 4:00am PST
pennsylvania. he was a member of the deficit reduction super committee last year that failed to agree on a plan. but he's been talking about this issue for a long, long time. good morning, senator. >> good morning. >> we just learned that president obama will be traveling to your backyard on friday to talk about the fiscal cliff and spending, and traveling to pennsylvania right now. is this a welcome visit as far as you're earned? >> as far as i'm concerned the president of the united states is always welcome in my state of pennsylvania. we welcome the president and look forward to his message, and i have some questions i'd like to-ish i hope he addresses. >> what questions? >> first of all the president seems absolutely determined to inflict a tax increase on the american people. two years ago he signed a bill that extended the current tax rates for two more years because he said the last thing you want to do is raise taxes in a weak economy. today the economy is weaker than it was two years ago. why in the world does he want to inflict that damage now? >> senator -- >> second,
CNN
Nov 28, 2012 1:00am PST
trillion in revenue or taxes over the next ten years. that's about 40% of the $4 trillion deficit goal that we have. that's the same thing that simpson-bowles had, 40% revenue. so the only way you can reach that, incidentally, is to allow the rates to go up. just this idea of we're going to take a look at the tax code, change some credits and deductions, you can't come up with enough money. >> so any deal will have to include at least some hike in the tax rate. >> i don't think there's any other way to approach it. that's why the president has taken this position. if we're going to make sure, for example, that we spare families making $250,000 a year or less from any income tax increase, then this idea that we're going to go into the tax code and find $1.6 trillion over ten years becomes almost impossible. we need to protect those middle income families. >> you said today that congress should deal with the fiscal cliff crisis now, but tackle entitlements, the entitlement questions, later. yesterday, senator lamar alexander said the only thing the president has to do to get an agre
CNN
Nov 28, 2012 11:00pm PST
trillion dollar annual deficit and this would not close that gap at all. so the president needs to come up with a plan and for better or worse going to require leadership. no member of the senate or the house is going to be able to do this, this is something the president has to do by himself and he can't do it on the campaign trail. >> let me ask you this because you wrote an op-ed today and you wrote about divided government about the deal. you said divided government means that neither democrats nor republicans will be able to pass legislation along strictly partisan lines. we cannot tax our way back to budget surpluses and economic prosperity without major spending cuts and entitle 347b9 reforms we will continue running a huge deficit regardless of what anyone does on either side. for every dollar of revenue you give him, he'll give you $2.50 of spending cuts. if he gave you that on spending cuts, it would be $850 billon a year would you do that? >> the president has said a lot of things, but what counts is what he's willing to put on the table and so far, he hasn't put medicare and
CNN
Nov 28, 2012 11:00am PST
we as republicans have been trying to do since 2005 when we passed the deficit reduction act. >> let me jump to that, because part of the intriguing thing here is the fact that congressman cole, he is doing something that the president said, that post election news conference and that is, you know, extend the tax cut for everyone, but the wealthy, and then, you know, after you get that done, and i don't know if you would be going along with that, but nevertheless, you know, go ahead, talk about this long-term deal that would involve possible cuts as i think you're getting at, you know, cuts to programs like medicare. is that something we could see taking shape here? >> you're talking about getting rid of redundancies. great example, 342 economic development programs that are in the federal government system. let's start cleaning up these redundancies. let's do some of these across the board cuts in discretionary spending. let's make certain that medicare and social security, which are trust funds, not entitlements, they're trust funds, that they meet their obligation to our seniors a
CNN
Nov 29, 2012 2:00am PST
deficit reduction that doesn't hurt the economy and doesn't hurt middle class families. if we agree that we should not raise taxes on middle class families, let's begin our work with where we agree. >> of course there are some lawmakers who are not that optimistic. they don't think there's enough time between now and the end of the year to get a deal done. nonetheless the president will continue pushing his message. he heads to pennsylvania tomorrow. he will go to a manufacturing plant where he will continue talking about extending the middle class tax cuts, not extending them for the upper class americans. in the meantime, there's pushback from republicans who are saying the president should not be out the road campaigning but back here in washington negotiating. >> dan, i will ask you to look into your crystal ball. president obama is meeting with mitt romney later today. do you have any idea what they plan to discuss? >> you know, there's a lot of speculation about governor romney playing a role in the administration. but the president himself, during his victory speech after he was r
CNN
Nov 21, 2012 8:00pm PST
the deficit picture look a lot worse over the next ten years. that's obviously, you know, that cuts against this narrative. on the other hand, there are a lot of things about the obama care law that are going to be fiscal problems. for example, the law treats people who are on the exchanges really differently from it treats people who get insurance through the employers. so there are a lot of those things that probably should be fixed but aren't going to yield big savings in the short term. as a matter of deficit negotiations, i think boehner is not on strong footing. >> interesting. there are a lot of problems with obama care. i think obama would be the first person to acknowledge that. he didn't get a lot of things he wanted in there. but david frum, what is john boehner doing? what is he possibly trying to gain from this? >> okay, i'm going with your crazy luke a fox option. >> good. >> john baner is about to have to bring the more conservative part of his caucus, some very bad news. republicans don't have a wlost leverage. tax cuts expire whether without anybody doing anything.
CNN
Nov 26, 2012 11:00am PST
willing to close tax loopholes to reduce the deficit, now we haven't yet seen that from congressional republican leaders, but we obviously are seeing it from prominent republicans you showed including senator graham and senator bob corker. >> question about two of those gentlemen here in a moment. cnn this morning talked to grover norquist, incumbents dare to break this pledge, dare to vote to raise taxes. the question was will he do it again? here's norquist. >> we would certainly highlight who has kept their commitment and who hasn't, but the point is historically the people who lose do so because the people in their state have figured that out. >> back to, i think, where you were going a moment ago, bob, it is interesting that when you look at the top two, two of the top republican senators we're talking about who are flirting to break this pledge, break with grover norquist and consider raising taxes on the wealthy they both face re-election in 2014. i'm talking about saxby chambliss and south carolina's lindsey graham. does that say to you that the political winds could be shifti
CNN
Nov 24, 2012 6:30am PST
to blame. take a look at this chart. the trade deficit with china has displaced more than 2 million jobs. the stdata from a left-leaning think tank. job losses were in computers and electronics. more than a million jobs lost in those industries over the years according epi. other industries hit hard include apparel, accessories and fabricated medals, textiles and furniture and plastics and rub, motor vehicles and parts. some companies are starting to see the economics of making appliances in the u.s. makes sense to their bottom line, that's right. more efficient distribution, better work force oversight. it's turning good business, turning into good business for a company we visited in michigan. this assembly line in canton, michigan, is humming again. it's auto country, but workers like michael cox are building televisions, part of an industry that largely left when manufacturing jobs were outsourced in the 1970s, '80s and '90s. >> lots of things went overseas. nice to see a lot of that stuff come back. a lot of people here need a job and we're willing to do just about anything to
CNN
Nov 27, 2012 2:00am PST
" and he joins me now. thanks for being with us now. we appreciate it. you compare the deficit to an insurance policy. you say it doesn't make you any richer in the short-term, but in the long-term, it is helpful. i want to actually put your statements up. you say let's agree to keep deficits very high for at least another year. and then let's buy an insurance policy against that debt crisis when we can really afford it. so lots of republicans and democrats out there would disagree greatly with you. say that america's ability to pay its debt is really important. how would you respond to them? >> right. i do think that there's a thing that's taken place in washington deficit reduction will stimulate us to enormous growth in 2013. the fact is what deficit reduction is, is tax increases and spending cuts, both of which take economic activity out of the economy. so this really is extremely similar to insurance. if i buy, say, flood insurance. what i'm doing is i'm paying a short premium in the short-term, to protect my house in the long-term. that's exactly what deficit reduction is. we'
CNN
Nov 28, 2012 1:00pm PST
fundamental problem and driver of federal deficits and debt. and that's reforming these entitlement programs that are on an unsustainable path right now. >> so but remember the president also said when he extended the 35% tax rate for the upper income for those making more than $250,000 a year, he says -- he said then that was the last time he was going to do it. it was a one-shot deal. he wasn't going to do it anymore. and as you know he ran his re-election campaign on the notion he was going to increase the tax rates from 35% to 39.6% for those people making more than $250,000 a year. you think he's likely to blink on that? >> you know, i don't know. i hope he is at least willing to work with republicans. republicans are open for business up here. if he wants to bring entitlement reform into this discussion -- and you made the comment or showed dick durbin's comment this morning about that would be too hard to do. well, all the work's been done. you've had simpson bolls, a lot of work out there has been done. we know what the issues are and what it's going to take the solve the pr
CNN
Nov 28, 2012 6:00am PST
the main drivers of our deficit. and i know we have seen this morning also several editorial writers indicate the same, that it is important that we put these drivers of the deficit on the table and include them as part of any agreement to avoid the fiscal cliff. as the speaker said, we have done our part. we have put revenues on the table, something that we didn't do two years ago during the debt ceiling negotiations. we still believe that it is most important for us to address the economic situation in this country where so many people are out of work. and that's why we take the position and believe strongly that increasing marginal rates is income tax rates is not the way to produce growth and to put people back to work. but we have not seen any good faith effort on the part of this administration to talk about the real problem that we're trying to fix. i'm told that mr. bolz, some of us will meet with him later today, has said earlier this morning that there's been no serious discussion by the white house on entitlements on medicare and medicaid. this has to be a part of this agr
CNN
Nov 27, 2012 11:00am PST
will increase in our country and the way we balance our budget or have less of a deficit is to let the economy grow. raising tax rates on rich people will not help the economy grow. in fact, it will send the economy in the wrong direction. >> i understand. i know you signed a pledge and you're sticking to that pledge with regard to the people you represent. so let me move on and ask you this, senator. you have indicated you are interested in running for president. tell me this, here, how exactly -- how interested are you and have you taken -- i know you smile because you've been asked it before, but let me ask you as well, have you taken any concrete actions to start lining up support? honest answer, please. >> well, you know, i've said i won't deny that i'm interested. little bit different than i am interested. >> let's read between the lines. what does that mean, sir? >> i want to be part of the national debate. i think my party, the republican party is shrinking. we're in danger of becoming a dinosaur. we're not competitive on the west coast. we're not competitive in new england
CNN
Nov 29, 2012 1:00pm PST
the rich from 36% to 39.6%. a real deficit reduction. 70% of the american people support that. they can't even come to terms with that. they seem to have not noticed the republicans that we did have an election. the president campaigned on this question of continuing tax cuts for the middle class but raising them back to the clinton rates -- returning to the clinton rates for the top 2%. he pledged that he would veto anything but that. and he will. so until the republicans agree to those clinton-era rates, we are going to go off the fiscal cliff. >> you know, it's interesting, ari, you'll remember this because you were the white house press secretary in 2001 and 2003 when those bush-era tax rates were approved basically by republicans, very few democrats voted to approve those bush-era tax cuts. so why not do what the republican congressman from oklahoma says, what paul just said, go ahead, declare victory. say, look, all these democrats are now on board, they support for 98% of the american people the bush-era tax rates for a long time to come, declare victory and move on. >> well,
CNN
Nov 23, 2012 10:00pm PST
this way, anderson, they learn this. it is a social skill deficit that they learn, and their parents need to know that and intervene. >> the place where we stop it is the public forum of the school. because we can't control these homes. but we can control what happens to kids at school. and we can have -- we can push for more empathy and more understanding. that's where we have a chance to make an impact. >> what bothers me is i don't think you can put a fence around the school. i hear administrators say it happened off campus, it wasn't actually on school. it was in a chat room, it was this, it was that. you have to take down the fences and boundaries. we are responsible adults, and if we know this is going on, we need to caucus and talk to the parents and have a discussion about this. and not to come in and put the bully under the jail. you're not going to punish this out of the bully. that young man that was doing that on the bus, that bully, to me, that is a tormented child. the bully. there's something going on. >> but when he went home that night for dinner and his mom said how
CNN
Nov 27, 2012 4:00pm PST
develop a deficit reduction plan. let me just ask you how you feel right now. 11 days since the president's met with congressional leaders face-to-face, do you think there needs to be more meetings like that right now? >> well, i think the president is doing the right thing. he's got to make the case to congress and the american people. not only of the dire consequences if we go over the cliff, but actually the tremendous upside. and one of the things we don't focus on enough, if we get a real deal, the amount of private capital that will come off the sidelines, invest in this country, we look pretty darn good compared to the faltering economy in europe, the slowdown in china. you know, this could actually be the biggest job generator of anything that's been talked about recently. >> one thing i'm confused by and maybe concerned by also, though, is something that you know well. that the outlines of a deal are pretty clear. there are different options, there are choices, there are tweaks around the edge, but the outlines of the deal are there. and two weeks ago, everyone was sayi
CNN
Nov 29, 2012 8:00am PST
sensible spending cuts that must be part of any significant agreement that will reduce our deficit. and mr. bowles himself said there is no serious discussion of spending cuts so far. and unless there is, there is a real danger of going off the fiscal cliff. listen, going off the fiscal cliff will hurt our economy and will cost american jobs. republicans have taken action to avert the fiscal cliff by passing legislation to stop all the tax hikes. to replace the sequester, and pave way for -- pave the way for tax reform and entitlement reform. and we're the only ones with a balanced plan to protect the economy, protect american jobs, and protect the middle class from the fiscal cliff. but without spending cuts and entitlement reforms, it's going to be impossible to address our country's debt crisis. and get our economy going again and to create jobs. so right now, all eyes are on the white house. the country doesn't need a victory lap. it needs leadership. it's time for the president, congressional democrats, to tell the american people what spending cuts they're really willing to m
CNN
Nov 23, 2012 4:00pm PST
deal with the deficit and everything else out there, so if you're a democrat, are you happy or unhappy because once that train starts rolling, it could hit l middle class, which the democrats warn they won't touch. >> i mean, i'm definitely happy about it. it's thanksgiving and i'm very thankful right now for millions of americans who came out on november 6th and declared loudly that the tax reform in particular making especially the highest income americans, you know, actually paying their fair share of taxes. that that's a priority and something that should be pursued in context of the fiscal cliff. the train is rolling and i think it's nice to see even some republicans now eventually realizing that taxes in particular tax fairness, does need to be a substantial part of this fiscal debate. >> but you just skated around my question, which is that if you're going to have real tax reform, almost every economist says the middle class is going to pay more, too. how are democrats going to handle that? >> i think the first thing you need to do is make sure the higher income househol
CNN
Nov 28, 2012 9:00am PST
next year to work together on a comprehensive plan to bring down our deficits, to streamline our tax system, to do it in a balanced way, including asking the wealthiest americans to pay a little more so we can invest in training, education, science, and research. now, i know some of this may sound familiar to you because we talked a lot about this during the campaign. this shouldn't be a surprise to anybody. this was a major debate in the presidential campaign and in congressional campaigns all across the country and a clear majority of americans, not just democrats but also a lot of republicans and a lot of independents agreed we should have a balanced approach to deficit reduction that doesn't hurt the economy and doesn't hurt middle class families. and i'm glad to see, if you've been reading the papers lately, that more and more republicans in congress seem to be agreeing with this idea that we should have a balanced approach. so if both parties agree we should not raise taxes on middle class families, let's begin our work with where we agree. the senate's already passed a bill th
CNN
Nov 27, 2012 12:00am PST
deficit that we have, the fiscal cliff that we're falling over is on spending. so this preoccupation with talking about taxes is talking about the smaller of the two problems that are causing the deficit. >> right. when you have a negotiation that's going on although the moment, 72% of americans according to the cnn poll believe obama and the gop should compromise to get thing off a cliff. we have to give and we see the difference ideologically, but in all kinds of trixie deductions and so on and a flat income tax increase on wealthy americans. what's the ideological difference. wealthier people pay a little more tax. >> it's not a ideological difference. what can raise the money most efficiently and effectively to create economic growth that's going to create jobs for people. one of the things i talked about during the campaign was cutting the corporate tax for manufacturing. you want to create jobs that are here in america that are going to create good-paying jobs that create things that people will consume here in it country. let's do something to get this manufacturing economy revved
CNN
Nov 27, 2012 1:00pm PST
are trying to make a deficit reduction deal to avoid the financial chaos. and president obama's reverting to some campaign mode right now to try to make sure things are done his way. our white house correspondent dan lothian is joining us now with new information. what are you learning, dan? >> reporter: well, wolf, while senior members of the administration including secretary geithner, chief of staff jack lou also top advisor meeting with -- the president himself trying to sell his vision to the public, but some say it's not a winning strategy. it doesn't take a gps to find the way to the fiscal cliff. much more difficult, finding the off ramp. at the president's first meeting with congressional leaders more than a week ago, there was a sense of optimism. >> my hope is is that this is going to be the beginning of a fruitful process. >> reporter: there was a follow-up phone call with house speaker john boehner, but a much different approach this week. the president's calendar is packed with sales pitches to the public, which he hopes will strengthen his hand in negotiations wit
CNN
Nov 29, 2012 11:00am PST
we can get these deficit eliminated. get our debt paid down and start growing the economy again. that's not unusual or new to any of us. nobody in the country. so i think the president is sticking to what he said throughout the campaign and as i said 3 million more people voted for him than voted for the other guy. >> with that said, on taxes, if there's any chance on your side, is there any chance on your side to come down to the form of a smaller tax hike on incomes above $250,000 or would you consider keeping rate it is same at $250,000 and raising them only on higher incomes, say half a million or $1 million a year? >> i think it's all part of the negotiations. we know where the president is and that is 250,000. but there are a lot of democrats who voiced back before the campaign 500,000, some say even a million. all of that is going to be negotiated. the president wants 250. if mr. boehner wants to come and offer something different, i'm sure he will do that. but the president stands at 250. which is below even where i was but he won the election. so i'm going to respond to
CNN
Nov 27, 2012 6:00am PST
deficit. it also has a lot of people saying wait a minute. some of these decisions could really impact -- and not a good way -- have a huge impact on the poor and elderly. for ceo lloyd blankfein, he did an interview over the weekend with cbs and made the case that the social safety net programs need to be scaled back like medicare, medicaid and social security. he says people need to lower their expectations of those sboi entitlements. easy for him to say. he made about $12 million last year. i digress. he did con socede that eventual the way to raise revenue will be for the wealthy to pay a higher tax rate. david coney is talking about addressing the entitlement issue but wants a corporate tax rate of zero. no doubt that would create huge outrage. he says that's the most effective way to create jobs in the u.s. and frees up so much money for companies to hire. many would probably agree that's important, too. you can see both sides of the story there, carol. one more extreme than the other, of course. >> of course. we'll see what happens. alison kosik at the new york stock exch
CNN
Nov 29, 2012 4:00am PST
agreed we should have a balanced approach to deficit reduction that doesn't hurt the economy and doesn't hurt middle class families. if both parties agree we should not raise taxes on middle class families let's begin our work with where we agree. >> americans are concerned. but divided over the best solution to avoid the fiscal cliff. take a look at an abc news washington post poll that shows 60% of americans support upper income americans having their taxes raised. 37% oppose it. on issue of reducing deductions, 44% support that. 49% oppose it. much like lawmakers they realize there is a big problem that needs to be fixed but divided on how to fix it. >> in addition to the goings on in the capitol there is a big lunch at the white house today. governor romney coming by for a bite to eat. a lot of speculation about what might be discussed at the meal and the possibility of maybe future job? >> jay carney pushed back on that yesterday. the president said there was no suggestion here that he had a special assignment for him. the president invited mitt romney to come to the white house bec
CNN
Nov 24, 2012 10:00am PST
. we've seen. that our manufacturing goods, trade deficit has gone up. >> that might be true that some play dirty, with don't we as well snt risk becomes that we encourage mal investment. all the things that make the united states unique and special over the past 100-odd years in the economy and that's innovation. and that's resilience had to do little with subsidies. little with special treatment but rather equal playing field. let's not corrupt what is made special to play dirty to keep up with the dirty players. >> i'm not suggest we go play dirty. i disagree with your economic history a little bit. every successful industry that's been incubated in the united states has been subsidized like sems and you can go back to the telegraph and find. that i think we have a differing view of economic history. but what i'm suggesting is this, someone's going to make cars for consumers in the united states. i'd like to see them made here. japan, korea, china, germany, they all have manufacturing strategies. if we don't have one, and i think -- i don't think it should be a dirty one. i think it
CNN
Nov 25, 2012 9:00am PST
internally gridlocked. we hear from people cut the deficit, expand medicare. we get a very inconsistent set of messages from them. no, i don't feel guilty at all, and i don't feel badly. i think -- i find there's a great commitment to solving the problem, but it gets to the specifics. i was in city hall in boston 44 years ago complaining about people who wanted a swimming pool in a neighborhood and they complaining because the dump trucks were coming in and out digging out the swimming pool and it was bothering them, and i complained to an old city councilman. he said, hey, kid, ain't you heard the news? everybody wants to go to heaven, but nobody wants to die. i think that's what i get from too many of constituents. they want us to cut the deficit, but don't raise my taxes and don't cut this and don't cut that and expand this and expand that. we do our best, and i'm not troubled by our inability to do what some of the them want us to do, which is impossible. >> i'm a little troubled sometimes by the thoughtlessness of some people who are quick to criticize anybody without
CNN
Nov 28, 2012 9:00pm PST
over 250,000, would be a trillion deficit -- >> a trillion dollars, henry, is nothing to be sniffed at. some urged the party to extend the bush-era tax cuts, for the households that earn less than $250,000, to insure the taxes don't go up. who cares anyway? >> sure, there is a point in there. i might dispute the numbers. i would argue as the members of my party, i would argue that we have a spending problem. as opposed to a revenue problem. to my friend steve's remark, about the clinton tax rates, that sounds great to go back to 39%. and yes, that was a time of balanced budgets. but actually, those balanced budgets bear little resemblance to the tax rates. in the clinton years, in the latter clinton years, one, we were in peace time. and two, there was a capital gains tax cut as part of the 1996 package. and let's not forget, most importantly, there was a little small thing at that time called a technology boom. so much so that it led to aacce. and of course there were tax revenues. so pointing to one tax rate at one point in time -- >> there is no one panacea or fix, we have a big
CNN
Nov 23, 2012 1:00pm PST
. everybody says, yes, the deficit, it's all a big problem. and it's true. you can't continue to run these trillion-dollar deficits. but when you get down to the nitty-gritty about what you're actually going to cut, that's what's really hard, joe. >> if they don't fix it, it's going to be in everybody's backyard. thanks so much. >> that's right. >>> does the israel/gaza cease-fire prove that the u.s. can negotiate with what it's called a terror group? what about al qaeda? the implications next. load your, with its foot-activated lift gate. but that's not all you'll see, cause c-max also beats prius v, with better mpg. say hi to the all-new 47 combined mpg c-max hybrid. tomato, obviously. haha. there's more than that though, there's a kick to it. wahlalalalallala! smooth, but crisp. it's kind of like drinking a food that's a drink, or a drink that's a food, woooooh! [ male announcer ] taste it and describe the indescribable. could've had a v8. ...and now... you! [ giggles ] ♪ the one and only, cheerios >>> fresh clashes between protesters and riot police in cairo within the past hou
CNN
Nov 28, 2012 4:00am PST
short-term is actual deficit reduction. we can do that through mandatory spending cuts in other areas. we can do it through the tax revenue that the president has called for. i think for instance, speaker of the house decided today to call the measure passed by the bipartisan senate to protect all families making $250,000 or less from any income tax increase december 31st, that would put enough revenue on the front end of this conversation to move us toward a solution. >> but so far i hear from you, in the short-term, no entitlements are on the table. >> only the medicare part of it, i want to be very careful. this means so much and we saw what a mess was made of it by paul ryan's budget, where the actual future of medicare was in doubt with his premium support plan. we don't want to go near that. we want to make sure that medicare, at the end of the day, is a program that is solvent, and we can count on it for generations 20 come. >> so if i'm a republican lawmaker watching this interview i'm saying, okay, he basically has put nothing on the table that's an entitlement. so all this t
CNN
Nov 25, 2012 1:00pm PST
you have a rising deficit and you have a country where the economy is stagnating you may have to, in the short term or for longer periods of time raise revenue and you may have to do that through raising taxes. so to have ever taken that position was an extreme position. >> so lawmakers, we're talking about peter king, lindsey graham being the latest ones today, to say they might consider abandoning that no tax hike pledge, similar to how senator saxby chambliss said he would abandon the pledge for the american people. yes, they may have been extreme positions but for a long time most of these lawmakers didn't feel it was extreme, they felt it was the necessary thing to do, they were digging in heels for a very long time. so it does seem hike an incredible page that's being turned here to be able to now say, i'll consider abandoning that. it does seem like there is maybe an olive branch that's being extended? >> i think turning back to a reasonable position is not the same as saying that i'm being moderate. what we are seeing in our polit politics, not just taking a couple of senator
CNN
Nov 26, 2012 10:00pm PST
revenue is an integral part of deficit deduction. and from my side of the table. bring entitlement reform into the conversation. >> so far, senator durbin has limited company among some fellow democrats. keeping them honest during the last budget showdown, both sides talked like this, but then they backed away. also as we mentioned a moment ago, there are late new signs that nobody's quite ready to cut a deal. another round of white house talks between congressional leaders and president obama was promised but is yet to materialize. a senate democratic leadership aid telling us that staff level meetings meant to lay the groundwork haven't been productive. one senate republican leadership aid accuses democrats of leaking details in order to portray republicans negatively. the talks are continuing, which itself can be read as some sort of progress. whether that's real progress or washington progress, remains to be seen. a lot to talk about starting with tennessee republican senator bob corker. thanks very much for joining us. let's talk about grover norquist. no new taxes pledged. you said
CNN
Nov 25, 2012 2:00pm PST
tax cuts, the obama tax cuts that help the economy, and the deficit. raising the ceiling on the debt. my feeing is they probably can go past january 1 but not far past it. and still not fall off the cliff. around january 15th. >> so now if there are to be some real groundwork laid by congress as they return after the holiday weekend, what really needs to get done, if we look at over the next six weeks, even though you say we've got past january 1, what should they try to accomplish this week? >> well, i think they need to start to spell out spending cuts. i mean, the president has made clear what he wanted in the way of additional revenue and there are a couple of different ways of getting there. now the president has to talk about the spending cuts that he is willing to accept. he needs to give republicans cover to come on board. right now, the list of republicans that are willing to come on board is very short. and he's just not going to get there with that list. he needs to talk specifically about how he's going to deal with entitlements. >> and then what happens to the average am
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